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Question ID : 40852

TCS U/S 206 C(1H) ON WIND ELECTRICITY SALE

Pl. let me know that whether TCS u/s 206 (1H) will be levied on wind electricity sale receipt

Posted by TARUN JAIN on Oct 02, 2020

Filed Under TDS/TCS

Answer ID : 81259

From 1st July 2021 section 194Q, will be applicable any person being a buyer if he pays to any seller for purchase of any good more than Rs. 50 lakhs in any previous year should deduct TDS 0.10% if PAN is not furnished 5% of the purchase value exceeding 50 lacs, before 1st July 2021 seller has to collect TCS 0.01% provided his sales exceeds Rd. 10 crores immediately preceding Financial Year if seller receives exceeding Rs.50 lakhs on that amount TCS applicable

Posted by Hari Beldona on Aug 28, 2021